Plosser Says Quarles to Be 'Voice of Reason' at Fed

The transcript discusses the balance between rules-based and discretionary approaches in monetary policy, emphasizing the need for predictability and systematic decision-making. It highlights the importance of communication by the Federal Reserve and introduces Randy Quarles as a candidate for the Fed, noting his potential to challenge groupthink and bring a fresh perspective to regulation.

In what ways does the speaker suggest that Randy Quarles might differ from other regulators?

What concerns does the speaker raise about the current regulatory approach in Washington?